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Answers (3)
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Far less to purchase and far less in retaining value.
Dan,
Sorry, you got this a tiny bit wrong. http://homebuying.about.com/cs/modulareducation/a/modularhomes.htm
Happy funding, Rudi
Dan,
Sorry, you got this a tiny bit wrong. http://homebuying.about.com/cs/modulareducation/a/modularhomes.htm
Happy funding, Rudi
- Dan, "the_country_hick"
- Contributions:4700
If instead of a trailer you meant a modular house that is different. A modular house is built the same as a site built house except it is built in 2 halves and brought to the site. It is then placed on a foundation with a crane. (or rollers)
A modular house is usually considered about the same for quality and resale as a stick built house is.
A modular house is usually considered about the same for quality and resale as a stick built house is.
- Dan, "the_country_hick"
- Contributions:4700
When new a doublewide is usually about $15-25k cheaper than a real house when new. As time goes on the doublewide (or singlewide) depreciates in value while a real house if kept up well should not depreciate in the same way.
Once a trailer gets to a certain age its value is effectively zero. No bank will lend against it. The only way it can sell is with owner financing.
After just a few years getting a loan is very difficult. Also, a higher interest rate is charged to by a mobile home compared to a normal house. I would NOT buy a trailer if instead I could afford to buy a real house.
Once a trailer gets to a certain age its value is effectively zero. No bank will lend against it. The only way it can sell is with owner financing.
After just a few years getting a loan is very difficult. Also, a higher interest rate is charged to by a mobile home compared to a normal house. I would NOT buy a trailer if instead I could afford to buy a real house.
how much less is a used manufactured home worth versus a conventionally built home
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